BlackBerry stock has gotten a nice pop recently following the release of its first BlackBerry 10 device, but the company has a narrow window of opportunity, Matthew Hoffman, managing director at Cowen & Co., told CNBC's "Squawk Box " on Tuesday.

The reason, he said, is that new devices from Samsung and Apple are set to arrive in the coming months.

Shares of BlackBerry—formerly Research in Motion—are up 27 percent so far this year, but Hoffman said that's the best investors are going to see for awhile. Since its 2007 all-time high of more than $230, the company's shares have lost 93 percent of their value.

BlackBerry goes up against IBM in Tuesday's "Squawk Box Money Madness" stock tournament. To vote, go to our Facebook page. Send one of those stocks through based on which one, you think, will have the best performance from the second quarter to the end of the year.

Keep in mind that IBM has been riding the stock market rally to all-time highs—up about 11 percent year-to-date. And Ed Maguire, managing director and senior analyst at CLSA, told CNBC he sees more upside for the stock.

The winner out of BlackBerry and IBM will go against Facebook in our "Favored 4" round. Apple beat out General Electric with 53 percent of the vote on Monday (recap)—so the iPhone and iPad maker will face Bank of America in the other "Favored 4" contest on Wednesday.